French police investigate spate of cryptocurrency millionaire kidnappings
GuardianMAY 3
France Arrests 24 in Crypto Kidnapping Cases
Above: France's Minister of the Interior Bruno Retailleau (L), next to a Police Commissioner, arrives for a visit to the Pissevin district in Nimes, southeastern France, on May 16, 2025. Image copyright: SYLVAIN THOMAS/Contributor/AFP via Getty Images
The Spin
Pro-government narrative
The rise in crypto kidnappings reflects inherent vulnerabilities in digital assets, not solely government missteps. Fast, irreversible transactions and relative anonymity are core to cryptocurrency's design, making it a natural target for organized crime. Criminals exploit these features regardless of regulations, showing the limits of policy in stopping sophisticated threats.
Government-critical narrative
While crypto's design poses risks, government policies have compounded the problem. EU regulations aimed at transparency have exposed sensitive private data, making crypto investors easier targets. Policymakers, in trying to regulate, unintentionally handed criminals a detailed map to their victims, worsening the security landscape.
Cynical narrative
Despite inherent risks and policy gaps, many crypto investors remain careless about their own security. Flaunting wealth and neglecting precautions like secure wallets and time delays only make them easier targets. Protecting oneself isn’t just about blaming outside forces — practical steps can drastically reduce the risk of violent attacks.